04 Oct Star Ratings Front-and-Center for Medicare Advantage Open Enrollment

With the 2024 Medicare Advantage open enrollment commencing on October 15th, enhancing Star ratings for Medicare Advantage plans continues to be at the forefront.

While most of the efforts to boost Star ratings happen prior to the open enrollment period, there are a number of considerations for making it a year-round priority.

According to this recent article from McKinsey & Company, disruptions in demographics, regulations, and member preferences are making it challenging for payers to chart an effective path forward. In addition, the 2023 Star ratings, which showed a decline from 2022, also had a negative impact on payer revenue.

The McKinsey article also highlights how payers should prioritize investment in the Stars program to meet evolving beneficiary needs and address performance and boost revenue. This investment should aim to address SDoH needs and clinical care gaps and improve health outcomes for an increasingly aging population.

This requires an ongoing commitment to quality improvement, including the allocation of resources and investment in technology and analytic tools to support ongoing monitoring and measurement of quality metrics.

Fortunately, the IMAT Flexible Payer Solution offers high-quality aggregated clinical data delivered in a more-timely basis through standard integrations. This capability enhances overall member care, reduces readmission rates, and increases disease management program eligibility.

By leveraging advanced data analytic capabilities, Medicare Advantage plans can also optimize patient interventions by predicting and preventing poor adherence. By accessing detailed patient trend insights, it is also possible to gain more insights into beneficiaries coping with serious illnesses.

In addition, the solution helps payers to improve overall HEDIS reporting capabilities and STAR ratings – a key benefit for any payer looking to enhance their overall reputation.

Clinical Data Integration (CDI) is the foundation for the IMAT Flexible Payer Solution. In fact, IMAT Solutions was recently highlighted as a CDI vendor in Gartner’s “Clinical Data Integration Capabilities and Sourcing Recommendations for U.S. Healthcare Payers” report.

Are you ready to gather more data to evaluate the quality of care received by your beneficiaries? Unlock the full potential of clinical data integration and transform the way you manage patient care! Contact us to schedule a 20-minute demo with our expert clinical data integration team – boasting a combined experience of over 40 years.